WHAT WE DO
Incorporated in Singapore, Summit Power International (SPI) is a leading infrastructure developer and operator in South Asia. SPI comprises a group of businesses, which focus on developing, owning and operating power generating and LNG infrastructure assets. Our portfolio produces reliable energy for sale to governments and state utilities, and in return provides long-term, predictable revenue streams for investors.
SPI established Bangladesh’s first independent power plant in 1997, and is now the largest Independent Power Producer (IPP) in the country, reflecting 17% of Bangladesh’s total private installed capacity and 7% of Bangladesh's total installed capacity. SPI owns and operates a total of 18 power plants in operation or under development with total capacity of 2,255 MW, a further 277 MW through its associate company Khulna Power Company Limited (KPCL), and operates Bangladesh’s second Floating Storage and Regasification Unit and LNG import terminal with a capacity of 500 mmcf/d. We are also actively exploring sustainable energy generation opportunities in Bangladesh, the neighbouring countries and in Southeast Asia. We identify portfolio-enhancing opportunities – both greenfield sites and existing power assets – which offer significant value to the power needs of the country and our stakeholders. Under Power Purchase Agreements (PPA), we establish long-term, contractually backed concession agreements with governments and state utilities. In return, Summit Power International receives stable revenue streams based on contracted capacity payments.
Over two decades, we have developed substantial expertise in project development, structuring and financing capabilities. Our team of highly experienced infrastructure specialists has worked in consortiums with multinationals, financial institutions and government agencies to invest in projects across Bangladesh.
As front-runners in the use of advanced technologies, we partner with top-tier equipment manufacturers to ensure our projects are developed using the latest and most efficient technologies. Summit Power International has a track record in working with world-leading engineering, procurement and construction (EPC) contractors, and original equipment manufacturers (OEM) services to construct and maintain projects, ensuring the highest quality standards.
Chairman's Message on SOSCL
Your leadership has been working on a long term vision for Summit Group. Given the changing demands, we are pleased to announce that effective 30th June 2023 the Summit Oil and Shipping Co Ltd (SOSCL) has been restructured into Summit Corporation Ltd from its previous Summit Holdings Ltd, the holding company for all non-power businesses of Summit Group of Companies.
The decision and restructuring comes at a time when we anticipate Bangladesh to require more gas, a transitional fuel in our long term vision of a carbon neutral roadmap, to continue the economic growth trajectory. We had proposed for the country's third Floating Storage and Regasification Unit (FSRU) through the Ministry of Power, Energy and Mineral Resources (MPEMR) and the Cabinet Committee on Economic Affairs had approved the proposal on principle this mid-June, given our successful track-record on owning and operating Summit LNG Terminal Co Pvt Ltd (SLNG).
On an operational level, SOSCL’s management and employees will now be following the policies and guidelines of Summit Corporations Ltd and Summit Power International Ltd. There will be more close cooperation among the departments. All the required changes will be affected in terms of reporting and external interactions. The leadership of SOSCL remains as is.
Summit sees itself as an evolving company, sharpening its strategy with time so that we can continue to earn public trust and contribute to infrastructure development that is one of the key underpinnings of Bangladesh’s economic growth.
Muhammed Aziz Khan
Founder Chairman of Summit Group of Companies
August 09, 2023
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